Property Description:
Solid Investments is pleased
to present an absolute NNN KeyBank located in King
City (Portland), OR for $1,670,000 / 5.5% CAP. There
are 7± years remaining on the Primary term with a CPI
rent increase on 11/1/12 and 2 x 5 year options to
renew at market rent. KeyBank has occupied this location for
more than 33 years. KeyBank (S&P Rated "A-"
| NYSE: KEY) with $90 billion in Assets (as of 2011).
*On 11/1/13
the rent will increase to $92,000 and will remain fixed for
the remaining 5-year term. The Seller will provide a credit
at closing from the difference of current rent to the 11/13
rent increase. Buyer will still benefit from 11/12
CPI rent increase.
Location:
This is a dense infill location, the Property is located across
from a Safeway grocery anchored center and a Marshalls/ Albertsons'
shopping center. Other immediate retailers include:
Bank of America, McDonald's, US Bank, Chase Bank, Rite Aid
and much more (see aerials below). Within a 1-mile
radius the total population exceeds 14,000 and over
225,000 people within 5-miles (see demographics below).
King City is southwest of Portland, off Highway 99, just beyond
Tigard. Only an hour's drive from the beach and mountains
and less than a half-hour to downtown Portland, OR.
About the Tenant:
Corporate Guaranteed KeyBank (S&P Rated "A-"
| NYSE: KEY) with $90 billion in Assets (as of 2011). KeyBank
is a regional bank headquartered in Key Tower within Cleveland,
Ohio's Public Square. As of 2007, it is the 19th largest bank
in the United States based on total deposits. It is the 24th
largest bank in the United States by total assets.
KeyBank National Association is a nationally chartered bank,
regulated by the Office of the Comptroller of the Currency,
Department of the Treasury.
KeyBank has approximately 17,468 employees and a diverse
client base. Key's customer base spans retail, small business,
corporate, and investment clients. There are 985 Key branches
located in Alaska, Colorado, Connecticut, Idaho, Indiana,
Kentucky, Maine, Michigan, New York, Ohio, Oregon, Utah, Vermont,
and Washington, and 1,479 ATMs. KeyCorp maintains business
offices in 31 states. In 2008, Key was ranked 321 on the Fortune
500 list.
- Corporate Guaranteed
KeyBank (S&P Rated "A-" | NYSE: KEY) with
$90 billion in Assets
- Absolute NNN Corporate
Ground Lease
- Long Time Established Location
- More than 33 Years at this Location!
- Across from a Safeway Grocery
Anchored Center and a Marshalls/Albertsons' Shopping
Center
- 7± years remaining on
Primary Term
- 2 x 5 Year Options to Renew at
Market Rent
- Dense Infill Location - 14,000+
People within 1-Mile and Over 225k+ within 5-miles
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